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EHAPC > LV3 Leasing and Letting (PE) > Flashcards

LV3 Leasing and Letting (PE) Flashcards

1
Q

Why did the circumstances of your discussion in the Coventry/Peterborough example warrant advising your client to seek a rental deposit? (LV3)

A

Despite having done the profits test which showed that the tenant had strong accounts for consecutive three years, my client made it clear to me that his objective would be to get a deposit for all tenants on the estate to ensure more protection. Therefore, I requested a deposit of 6 months months.

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2
Q

What other terms did you advise your client should be included in the Peterborough/Coventry leases and why? (LV3)

A

I advised that all details of the Heads of Terms should be included in the lease as well as whether or not the lease is Outside or Inside the Act, who the tenant’s occupier is etc.

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3
Q

If there had been a head lease in the Coventry/Peterborough case how would this have affected your advice your client? (LV3)

A
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4
Q

In the Archway example why did you consider your proposed marketing strategy would generate interest for your client? (LV3)

A
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5
Q

Could you take me through your leasing tracker for Archway? What did you advise your client? (LV3)

A
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6
Q

Explain a factor you have come across which impacts upon letting value/lease terms (LV2)

A

Whether it’s Inside or Outside the Act (Security of Tenure)
Lease term
Break

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7
Q

Explain an example of when you have provided marketing/leasing strategy to a client. (LV2)

A

Archway Covid, shift to online
Leicester Magazines etc more local

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8
Q

Talk me through an example of when you have let a property (LV2)

A

Let Coventry, Kelvatek
Let Unit Islington Studios

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9
Q

As the properties in Leicester formed a portfolio how did this impact your approach to the letting strategy? (LV2)

A

Allowed me to create a brand for the entire portfolio - Northburn Logistics - brand, logo, website, consistency

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10
Q

What did you include in the marketing particulars? (LV2)

A
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11
Q

On what basis were you appointed in the Leicester letting project? (LV2)

A

I acted on behalf of the landlord as the asset manager, my main role is to manage the agents and property management of the asset.

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12
Q

Tell me about the terms you negotiated in the Leicester example? (LV2)

A
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13
Q

Why did you choose to undertake the letting in Coventry if you were appointed as property manager? (LV2)

A
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14
Q

What rent did you negotiate for the car parking licence at Coventry? (LV2)

A
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15
Q

Why did you consider a licence to be necessary as opposed to a lease? (LV2)

A
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16
Q

Tell me about your understanding of legislation relevant to your leasing and letting practice? (LV1)

A
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17
Q

Tell me about your understanding of the Estate Agents Act 1979 (LV1)

A
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18
Q

What are the 6 key principles of the Estate Agents Act 1979?

A
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19
Q

How does Section 18 relate to your letting practice?

A
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20
Q

What are the various agency bases?

A
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21
Q

What are the differences between the four agency bases and where are these defined?

A
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22
Q

What is a ready, willing and able purchaser?

A
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23
Q

How does Section 21 relate to your letting practice?

A
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24
Q

Tell me about key points of the Consumer Protection/Business Protection Regulations

A
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25
Q

What is an average consumer/material infromation?

A
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26
Q

What are considered to be unfair practices under the Consumer Protection/Business Protection Regulations

A
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27
Q

How does the Misrepresentation Act 1967 relate to your agency practice?

A
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28
Q

What does the Unfair Contract Terms 1977 say?

A
29
Q

Do you need to inform your client if you offer a service to a prospective tenant?

A

Yes

30
Q

Tell me about your understanding of the Code of Leasing Business Premises in England and Wales

A
31
Q

When and how was the Code of Leasing Practice last updated?

A
32
Q

Tell me the three key issues raised in the RICS Real Estate Agency and Brokerage Standards/RICS Commercial Real Estate Agency (Purple Book)

A
33
Q

Explain what alienation is

A
34
Q

What happens if there is no alienation clause in a lease?

A
35
Q

What is subletting?

A
36
Q

What is assignment?

A
37
Q

Explain your understanding of the Landlord and Tenant (Covenants) Act 1995 and how it affects your leasing work?

A
38
Q

What does S19 1a of the Act say?

A
39
Q

What is an Authorised Guarantee Agreement and when might one be given?

A
40
Q

Can a tenant assign a lease to its guarantor?

A
41
Q

What is a pre-letting?

A
42
Q

What is an Agreement for Lease?

A
43
Q

Why would an Agreement for Lease be used?

A
44
Q

What is a collateral warranty?

A
45
Q

Talk about planning considerations you are aware of if you want to install a marketing board

A
46
Q

Do you need planning consent to install a marketing board?

A
47
Q

Talk about the requirement surrounding letting property and EPCs

A
48
Q

What buildings are exempt from having an EPC?

A
49
Q

Can you charge a tenant for a copy of an EPC?

A
50
Q

Where does the EPC have to be shown?

A
51
Q

How long do you have to produce the EPC after a proprty is put on the market?

A
52
Q

Tell me about how MEES affects your leasing practice?

A
53
Q

What are the key MEES compliance dates?

A
54
Q

How can MEES risk be reduced?

A
55
Q

What would you do if you were asked to let an F or G rated property?

A
56
Q

How can you improve on EPC rating?

A
57
Q

How could onerous clauses/macro/micro economic conditions impact upon tenant confidence and demand?

A
58
Q

How does VAT affect lettings?

A
59
Q

What type of operator might be affected by a rent which is subject to VAT?

A
60
Q

Talk me through your understanding of contracting out a lease, why it might be done and how you do so

A
61
Q

What health checks apply to contracting out?

A
62
Q

When did contracting out procedures last change?

A
63
Q

Explain what you understand by the planning use classes

A
64
Q

When were the planning use classes last amended and what changes were made?

A
65
Q

How do you assess tenant covenant strength and what security might you request as a result?

A
66
Q

What money laundering checks do you undertake during agency work?

A
67
Q

What is the profits test and how would you apply it?

A
68
Q

In a new leasing deal, how might you include a pandemic rent suspension clause?

A
69
Q

What issues might you face when agreeing a lease term with a pandemic rent suspension clause?

A

EHAPC (41 decks)

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